Europe Going for Electric Vehicles in Record Numbers
2020 To Be Record Year For EVs in Europe
In the first half of 2020, electric vehicles comprised 8% of car sales in Europe. According to a new analysis by NGO Transport and Environment, EV's are on track to triple their market share for all of 2020 in Europe. This is very significant growth despite the COVID pandemic clobbering overall vehicle sales. The actual number of EV's sold in Europe is expected to double to 1 million for the year 2020.
European Regulations and Incentives
In the broader picture, several factors are helping to increase electric vehicle sales. The European Union is tightening car emission standards and will continue to ratchet-up standards to reach its 2030 EU climate goals on carbon emissions. Plus, Germany and France have put attractive EV purchase incentives into place. Overall, electric and plug-in hybrid EV's will account for 10% of European car sales in 2020. The big winners are the environment and EV automakers like Tesla, Audi, VW and BMW.